News

October, 2024

• 18 October

  Better Armed Cyberthieves Means Fewer Breaches, More Effective Attacks

  

  Despite the number of data breaches during the third-quarter of 2024 declining 8% from the previous quarter, criminals are better armed than ever for carrying out these nefarious attacks, according to the Identity Theft Resource Center. One factor making it easier for criminals to initiate a data breach is the emergence …
• 18 October

  Visa Tweaks Visa Direct Line up and other Digital Transactions News briefs from 10/18/24

  

  Visa Inc. has restructured its money movement services under the Visa Direct portfolio, which now includes Visa B2B Connect, Currencycloud, Yellowpepper, and Visa Direct. Cash App, the peer-to-peer payment service and wallet from Square, said Lyft ride-share users can now pay for fares with Cash App. Truist Financial Corp. launched its Electronic …
• 17 October

  Zelle Posts Strong 2024 First Half Growth

  

  Zelle, the peer-to-peer payment network operated by Early Warning Services LLC, announced early Thursday that consumers and small businesses sent $481 billion dollars over the network during the first half of 2024, a 28% increase from the same period a year ago. Zelle users sent $1.8 million per minute, $110 million …
• 17 October

  Same-Day ACH Payments Mount As Nacha Reports a Robust 67.5% Growth in Volume

  

  Faster payment volumes continue to mount in the U.S. market as Nacha, the regulatory body for the nation’s automated clearing house network, announced early Thursday same-day transaction volume grew 67.5% in the third quarter compared to the same period in 2023. That growth resulted in 355.2 million payments, compared to …
• 17 October

  The FTC Releases Its Final Click-to-Cancel Rule

  

  More than a year after proposing a click-to-cancel rule for subscriptions and recurring transactions, the Federal Trade Commission released a final version of the measure, officially called the Negative Option Rule. Announced Wednesday, the rule’s five primary elements call for important subscription information to be truthful, clear, and easy to …
• 17 October

  Apple Pay’s 10th Anniversary and other Digital Transactions News briefs from 10/17/24

  

  Apple Inc. which is celebrating the 10th anniversary of the introduction of Apple Pay, said the payments service is now supported by more than 11,000 banks and networks globally and has attracted “hundreds of millions” of users in 78 markets around the world. Buy now, pay later provider Klarna AB payment options …
• 16 October

  The Threat From Synthetic Identity Fraud Remains Potent, TransUnion Finds

  

  The risk exposure to businesses from synthetic identity fraud totaled $3.2 billion during the first half of 2024—an all-time high, and up from $3 billion during the same period a year ago, says TransUnions’s “H2 2024 Update” to its State of Omnichannel Fraud Report. Criminals actively used synthetic identities to …
• 16 October

  CPI’s All-in-One Card Technology Debuts

  

  With several factors at play, CPI Card Group Inc. is launching fresh card technology that reduces the amount of first-use plastics while providing issuers new formats and shapes for their credit, debit, and prepaid cards. Announced Wednesday, the All-in-One technology using the Secora Pay Green technology has been developed in …
• 16 October

  Oracle Health Payments Debuts and other Digital Transactions News briefs from 10/16/24

  

  Oracle Corp. launched Oracle Health Payments, which the company says combines gateway routing, processing, and acquiring in a single contract for health-care providers. Capabilities include tap-to-pay with Apple Pay, Google Pay, or Samsung Pay. Visa Inc. said it is collaborating with Analytic Partners to enable a data-analytics service for merchants. The fintech Pivot …
• 15 October

  Tyfone Spins Off a Real-Time Payments Company;  Shazam Links With i-payout for Real Time

  

  Tyfone Inc., a provider of consumer and commercial digital banking services for community banks and credit unions, has launched Payfinia Inc., a separate company that provides real-time payments technology. Payfinia’s flagship product will be the Instant Payment Xchange (IPX), which provides consumers with the ability make an account-to-account payment using …